Is Risk management dynamic

Risk management is a dynamic process. Risks are identified, subjected to qualitative and / or quantitative analysis, and then a risk response is selected, based on the potential impact, the organization's risk tolerance, and the nature of the risk. Thereafter, the "trigger" condition associated with the risk is monitored by the risk "owner," in order to determine when the risk has become a certainty, so the risk response can be initiated.

Most organizations regularly review their risk register to determine if the potential impact or probability of a risk event has changed. If so, it may be necessary to update the planned risk response.